NIKE (NYSE:NKE) Price Target Lowered to $170.00 at BMO Capital Markets

NIKE (NYSE:NKE) had its price target trimmed by BMO Capital Markets from $174.00 to $170.00 in a report released on Friday morning, The Fly reports. The brokerage currently has an outperform rating on the footwear maker’s stock.

A number of other equities research analysts have also commented on NKE. Robert W. Baird raised their price objective on NIKE from $150.00 to $192.00 and gave the stock an outperform rating in a research report on Friday, June 25th. Cowen raised their price objective on NIKE from $145.00 to $181.00 and gave the stock an outperform rating in a research report on Friday, June 25th. They noted that the move was a valuation call. Zacks Investment Research lowered NIKE from a buy rating to a hold rating and set a $164.00 price objective for the company. in a research report on Tuesday. Pivotal Research reaffirmed a buy rating and issued a $175.00 target price on shares of NIKE in a research report on Tuesday. Finally, Piper Sandler lifted their price target on NIKE from $170.00 to $174.00 and gave the company an overweight rating in a report on Friday, June 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $173.78.

NKE stock opened at $149.59 on Friday. The company has a current ratio of 2.72, a quick ratio of 2.01 and a debt-to-equity ratio of 0.74. NIKE has a one year low of $118.80 and a one year high of $174.38. The firm has a market capitalization of $236.62 billion, a PE ratio of 42.02, a P/E/G ratio of 2.49 and a beta of 0.87. The firm has a 50-day moving average of $164.95 and a two-hundred day moving average of $147.64.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Wednesday, September 22nd. The footwear maker reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The company had revenue of $12.25 billion during the quarter, compared to analyst estimates of $12.47 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities research analysts anticipate that NIKE will post 4.3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Monday, August 30th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 27th. This represents a $1.10 annualized dividend and a dividend yield of 0.74%. NIKE’s payout ratio is 30.90%.

In other news, COO Andrew Campion sold 7,125 shares of the business’s stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $171.50, for a total transaction of $1,221,937.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Chris L. Abston sold 18,000 shares of NIKE stock in a transaction on Tuesday, June 29th. The shares were sold at an average price of $155.00, for a total transaction of $2,790,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 306,671 shares of company stock valued at $49,513,487. 3.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NKE. OLD Mission Capital LLC purchased a new position in shares of NIKE during the third quarter valued at $338,000. Lincoln National Corp boosted its stake in NIKE by 21.8% in the 1st quarter. Lincoln National Corp now owns 15,236 shares of the footwear maker’s stock worth $2,025,000 after purchasing an additional 2,731 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in NIKE in the 1st quarter worth approximately $688,000. Rafferty Asset Management LLC boosted its position in NIKE by 107.4% in the first quarter. Rafferty Asset Management LLC now owns 8,952 shares of the footwear maker’s stock valued at $1,190,000 after buying an additional 4,636 shares during the last quarter. Finally, Harbor Financial Services LLC boosted its position in NIKE by 14.6% in the first quarter. Harbor Financial Services LLC now owns 2,445 shares of the footwear maker’s stock valued at $325,000 after buying an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.

About NIKE

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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